The year-to-date (YTD) total return for the Emirates Global Sukuk fund as at 9th August 2012 stands at 7.42%, while the YTD total return for the Emirates Mena Fixed Income Fund 10.11%. The Emirates Mena High Income Fund has returned an equally strong 5.80%.

The positive performance of the open-ended fundsin a depressed global financial scenario, points to the expertise in fund management at the asset management division of Emirates NBD. The funds cover Islamic and regional debt instruments, as well as a high yielding equity-based product.

The performance of all three has been strong when compared to their peers over the first half of this year, with both the fixed and high income suites delivering significant capital growth. Overall, the annualised income distributions of the three funds for the first six months of 2012 were in the range of 4 to 5 per cent in US Dollar terms.

“The strong performance of our income range of funds is evidence of investor confidence both in the regional markets and in Emirates NBD’s asset management arm,” said Deon Vernooy, Head of Emirates NBD Asset Management. “Despite the down turn in the global financial scene, we have been able to consistently return high profits for our investors, as proven by the half-yearly dividend payout this year, which comes on the back of a similar performance in the first half of last year as well.

Emirates NBD Asset Management offers a range of conventional and Islamic products that offer exposure to regional and global markets. With over 50 financial specialists from 14 different countries, it forms one of the largest asset management firms in the region.

Emirates Global Sukuk Fund:

The Emirates Global Sukuk Fund is a US Dollar denominated, Sharia compliant open ended fund invests in a diversified portfolio of Sukuk issued by companies locally and globally. The primary investment objective of the Fund is to achieve high income as well as capital growth.

Emirates MENA Fixed Income Fund:

The Emirates MENA Fixed Income Fund is a US Dollar denominated open ended fund, which aims to achieve a high level of income as well as capital growth, predominantly through a diversified portfolio of MENA debt securities of varying maturities along with cash and other ancillary instruments.

Emirates MENA High Income Fund:

The Emirates MENA High Income Fund is an open ended fund which aims to provide a high level of income from a managed portfolio of MENA assets. The fund will primarily invest in equities, but also take exposure to other suitable asset classes such as fixed income instruments, deposits and ancillary assets. Income will be distributed on a semi-annual basis with a target rate of USD 3 month LIBOR plus 300-500bps.

Post new comment

Background information

Emirates NBD Asset Management, which is regulated by the Dubai Financial Services Authority, is the asset management division of Emirates NBD Bank, the largest bank by assets in the MENA region. The asset management entity manages over $1.6 billion across a range of products including MENA equity and fixed income funds, global risk profiled funds and a complete range of Shari’a compliant vehicles. The Emirates NBD managed funds are domiciled in Jersey and are regulated by the Jersey Financial Services Commission.

Emirates NBD Asset Management, which is regulated by the Dubai Financial Services Authority, is the asset management division of Emirates NBD Bank, the largest bank by assets in the MENA region. The asset management entity manages over $1.6 billion across a range of products including MENA equity and fixed income funds, global risk profiled funds and a complete range of Shari’a compliant vehicles. The Emirates NBD managed funds are domiciled in Jersey and are regulated by the Jersey Financial Services Commission.

Since its founding in 1999, ASDA'A Burson-Marsteller has played a pivotal role in the development of the Middle East public relations industry. Through its longstanding commitment to providing innovative, results-driven communications solutions, ASDA'A Burson-Marsteller has emerged as the region's premier public relations consultancy, with a growing portfolio of blue-chip corporate and government clients.

Since its founding in 1999, ASDA'A Burson-Marsteller has played a pivotal role in the development of the Middle East public relations industry. Through its longstanding commitment to providing innovative, results-driven communications solutions, ASDA'A Burson-Marsteller has emerged as the region's premier public relations consultancy, with a growing portfolio of blue-chip corporate and government clients.